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Answers (5)
- rudysmom67
- Contributions:2
Thanks for your responses. I did get a hold of a human at Zillow, who stated she will correct the error after I faxed her some info.
The house appraised four months ago at 190,000.00 MORE than we paid for it, so yes, Francesca, we are hoping to make a profit when we sell. We were the first asking price offer on the day the price was lowered, and there were four more offers by close of business that first day. Oh....and the realtor for the owner stated the owner would NOT accpet any financing or other home sale contingencies.....That is what an insane deal this was.
The previous owner built for a cost of 1.6 million lot plus house (has all docs to prove it). A neighboring vacant lot (150 feet of lake frontage compared to our 3 acres) just sold for 310,000.00 That is where the 310,000.00 number came from . Our property sat on the market for 2 years at 1.5 million, 1.2 million and then a million, when the price overnight dropped to $650,000.00. Seriously the sale of the century. After closing we have already had one family contact us (who had a bid in right after us on that fateful day) offering us $50,000 more than we paid. So, Francesca, I am hoping your scenario is not accurate.
Thanks to all for the info. By the way, Zillow's home price is still at 1 million, so it is laughable that they have only messed up the sale price. I am THRILLED with their Zestimate!
:-)
The house appraised four months ago at 190,000.00 MORE than we paid for it, so yes, Francesca, we are hoping to make a profit when we sell. We were the first asking price offer on the day the price was lowered, and there were four more offers by close of business that first day. Oh....and the realtor for the owner stated the owner would NOT accpet any financing or other home sale contingencies.....That is what an insane deal this was.
The previous owner built for a cost of 1.6 million lot plus house (has all docs to prove it). A neighboring vacant lot (150 feet of lake frontage compared to our 3 acres) just sold for 310,000.00 That is where the 310,000.00 number came from . Our property sat on the market for 2 years at 1.5 million, 1.2 million and then a million, when the price overnight dropped to $650,000.00. Seriously the sale of the century. After closing we have already had one family contact us (who had a bid in right after us on that fateful day) offering us $50,000 more than we paid. So, Francesca, I am hoping your scenario is not accurate.
Thanks to all for the info. By the way, Zillow's home price is still at 1 million, so it is laughable that they have only messed up the sale price. I am THRILLED with their Zestimate!
:-)
- Francesca Patrizio, "PatrizioRE"
- Contributions:132
Oh what a suprise . .. Zillow is off base! What a shocker! Zillow is notorius for inacurate evaluations and only a local agent/agency can provide the date to counter same.
As for your having bought his year and wanting to sell at a profit within a "few years" I highly doubt that will happen. Due to the economic environment. by selling in a few years, you would be lucky to break even. The days of great appreication are long gone and annual depreciation continues.
You would be better served by holding onto your home for at least 5 years.
As for your having bought his year and wanting to sell at a profit within a "few years" I highly doubt that will happen. Due to the economic environment. by selling in a few years, you would be lucky to break even. The days of great appreication are long gone and annual depreciation continues.
You would be better served by holding onto your home for at least 5 years.
- wetdawgs
- Contributions:26810
If the sales price is incorrect, open the home details page, scroll down to the "Price history" table and click on the little flag associated with the sale to describe the issue. Zillow will confirm your price with public records.
Here's a screen shot of the price history table with the flag circled in red.
Here's a screen shot of the price history table with the flag circled in red.
- Mark Nehs, Wisconsin, "WI Mortgage Lender"
- Contributions:250
Is the Zestimate (Zillow's estimate) $310,000 or previous sale price $310,000? If recent sale it might not be updated yet. I have generally found previous sale information to be accurate.
- Appraisal guy
- Contributions:120
I've completed several studies on this. Go to [hotlink removed by Zillow moderator] to find a comparison of when and how to use zillow to determine home value and if it is even the best way at all.
House sale price on Zillow is WRONG
List price was $650,000. We paid $640,000. Price listed on Zillow: $310,000!!!
HELP!!!
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